Cullinan Associates Inc. Sells 15,408 Shares of ExxonMobil Corporation $XOM

Cullinan Associates Inc. trimmed its position in shares of ExxonMobil Corporation (NYSE:XOM) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,525 shares of the oil and gas company’s stock after selling 15,408 shares during the period. ExxonMobil comprises 2.2% of Cullinan Associates Inc.’s holdings, making the stock its 12th biggest holding. Cullinan Associates Inc.’s holdings in ExxonMobil were worth $28,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XOM. Berbice Capital Management LLC bought a new position in shares of ExxonMobil during the fourth quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 187 shares during the last quarter. Aventus Investment Advisors Inc. purchased a new position in ExxonMobil during the 2nd quarter valued at $27,000. Keewaydin Investments LLC purchased a new position in ExxonMobil during the 4th quarter valued at $33,000. Finally, Portus Wealth Advisors LLC bought a new position in ExxonMobil in the 1st quarter valued at $36,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on XOM shares. Mizuho lowered their target price on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. HSBC set a $158.00 price target on ExxonMobil in a report on Monday, August 3rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. Morgan Stanley raised their price objective on ExxonMobil from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Finally, Zacks Research lowered ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ExxonMobil presently has an average rating of “Hold” and an average price target of $166.10.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

ExxonMobil Trading Up 0.3%

NYSE:XOM opened at $156.88 on Friday. The stock’s 50 day moving average price is $150.53 and its 200 day moving average price is $151.87. The company has a market capitalization of $650.26 billion, a PE ratio of 20.19, a P/E/G ratio of 0.62 and a beta of 0.17. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The firm had revenue of $114.53 billion during the quarter, compared to analysts’ expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter in the prior year, the firm posted $1.64 EPS. On average, research analysts anticipate that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil’s payout ratio is presently 53.02%.

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.